Sonata Software stock skyrockets ~8% after it announces bonus issue

8 Sep 2022 , 12:44 PM

Sonata Software’s counter rallied nearly 8% so far in Thursday’s trade after the company announced stock bonus.

The software and consultancy firm announced the issuance of bonus shares in a 1:3 ratio, which implies that an eligible shareholder would get one share for every three shares held as of the record date.

The corporation has set September 10, 2022, as the record date for determining eligibility for the bonus share issue. Bonus shares will be awarded to investors who have the stock in their Demat account as of the record date.

At around 12.41 PM, Sonata Software was trading 7.82% higher at Rs577.90, against the previous close of Rs536 on NSE. So far, it hit an intraday high and low of Rs603 and Rs566.25 respectively.

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